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Jan 17, 2013
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finally, on the federal budget deficit and debt, the committee sees that the budget deficit will continue to decline over the next two years. but we do not characterize the debt and deficit at unsustainably high levels. we do think the deficit is reduced to $925 billion in 2013 and narrowed further, to $728 billion in 2014. that is down from $1.1 trillion last year. that gives you an overview of the committee consensus opinion and i would be happy to answer any additional questions you might how about the committee's outlook. i will be happy to entertain other questions as well. yes? >> just to clarify a little bit on the gdp dragon on the tax hike, was that on the payroll and income tax increases? >> that is correct. >> the 1.25% dragon, was out for the whole year? -- the 1.25% drag, was that for the whole year? >> we think it will be for the whole year of fiscal 2013. >> with the labour market and some improvement on as quick as it was, without just -- there was some sentiment that it might be slowing down. >> we are seeing drags on consumer spending, but also from the ongoing recession
finally, on the federal budget deficit and debt, the committee sees that the budget deficit will continue to decline over the next two years. but we do not characterize the debt and deficit at unsustainably high levels. we do think the deficit is reduced to $925 billion in 2013 and narrowed further, to $728 billion in 2014. that is down from $1.1 trillion last year. that gives you an overview of the committee consensus opinion and i would be happy to answer any additional questions you might...
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Jan 17, 2013
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you have the looming federal deficit, but you also have this deficit in infrastructure. what it takes to sustain mobility, the economy, society. we can't ignore one by taking care of the other. there has to be a package deal. the simpson-bowles commission recognized it had to be part of the package. you have to demand that transportation be part of this overall solution that is put together and get into whether ideas have a better chance of enactment. but what our stance is, if you simply go to the republican caucus and say, let's raise taxes, they'll throw you out of the room. but if you go to them with a proposition, can we reduce the deficit of $150 billion? can we make the program pay its own way and can we sustain jobs and the solvency of the highway trust fund all in one, i think we'll have something to go on. again, thank you so much for the cary award. we value this and i appreciate the recognition and we want to commitment our -- continue our commitment to research and debate opportunity to share with you the thoughts on this idea. what you heard the secretary s
you have the looming federal deficit, but you also have this deficit in infrastructure. what it takes to sustain mobility, the economy, society. we can't ignore one by taking care of the other. there has to be a package deal. the simpson-bowles commission recognized it had to be part of the package. you have to demand that transportation be part of this overall solution that is put together and get into whether ideas have a better chance of enactment. but what our stance is, if you simply go to...
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Jan 21, 2013
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he applauded on a lot of the lines of the deficit and the mention of newtown and other issues, but notably on immigration reform, he just sort of sat there while other members did applaud. whether or not you can read something into that, i am not sure, but it is definitely an opportunity for reaction on the other side. host: to all of these issues we have been addressing the last hour, i want to look at something your colleague wrote in "the washington post." "if the president can reach a broad deal that settles some of the disputes over entitlement spending and tax code and govgiving the government borrowing authority to last through much of the term, he can use that energy to forge a bipartisan, rise on these other big issues to." guest: that is a huge point. one point that ms. mcconnell, republican leader in the senate, has made over and over again is the reason they are using to get them as leverage is they feel the urgency of the issue, and one of the things he said in the past few weeks was that if obama does come to the table and helps to craft a big deal, both sides can agree to, h
he applauded on a lot of the lines of the deficit and the mention of newtown and other issues, but notably on immigration reform, he just sort of sat there while other members did applaud. whether or not you can read something into that, i am not sure, but it is definitely an opportunity for reaction on the other side. host: to all of these issues we have been addressing the last hour, i want to look at something your colleague wrote in "the washington post." "if the president...
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Jan 15, 2013
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this would allow us to keep reducing the deficits. we have a shared value in eliminating waste, fraud, and abuse. we are intent on that. host: how much of the budget does waste, fraud, and abuse make up? guest: i could go back to virginia beach, virginia, and we could identify waste every day. we will never eliminate it entirely. we can do a better job. it will take reforms. we are living longer and we have fewer people paying in. i want to protect those who are hurting the most, like art, who called in earlier. host: lester is a republican. caller: good morning. disability, 63 years old. my wife still works. $45,000 a less taw less than year. somehow someone is going to have to do something about this. guest: i agree completely. i believe it is immoral for one generation to pass on debt that dims their future. those who have served our country -- i am mindful of the price paid by our goldstar families. we're failing the young people. i am with you. i was over it. i believe when americans are given good information, they will make goo
this would allow us to keep reducing the deficits. we have a shared value in eliminating waste, fraud, and abuse. we are intent on that. host: how much of the budget does waste, fraud, and abuse make up? guest: i could go back to virginia beach, virginia, and we could identify waste every day. we will never eliminate it entirely. we can do a better job. it will take reforms. we are living longer and we have fewer people paying in. i want to protect those who are hurting the most, like art, who...
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Jan 18, 2013
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., our deficit to g.d.p. down around 3%, which is the basis of all economists left, right and center all agree on the areas we can begin to grow as a country. and as my grandfather used to say with grace of god and goodwill of the neighbors, cooler heads will prevail now between now and the time we deal with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. but i didn't come here to talk about any of those important subjects today, because as important as they all are today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that score, i owe an incredible debt of gratitude to you at the head table and those of you in the room. i know we don't have unanimity in this ballroom nor do we in any ballroom, but we all acknowledge that we have to do som
., our deficit to g.d.p. down around 3%, which is the basis of all economists left, right and center all agree on the areas we can begin to grow as a country. and as my grandfather used to say with grace of god and goodwill of the neighbors, cooler heads will prevail now between now and the time we deal with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. but i didn't...